News that interest rates aren’t coming down yet could be spun as a positive, at least they’re not going up again. The following day, we heard that, it’s official, we’re no longer having a recession. The problem with all economic measures, in both senses of the word, is they take time. Had interest rates gone up sooner, inflation, perhaps, would have been better controlled. Reducing them now might turn around the lagging effects of even our brief recession (look at the empty streets on any high street) sooner rather than the later
And that’s what will most likely decide the next election; amongst many other things. If the doctor/chancellor tells you you’re fine, it does sometimes make you feel better. But not if you’re actually ill/broke. As most paying mortgages or rent are likely to be.
